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All questions relate to each other so I had to post them all together. 11. Calculate the MONTHLY payment from the following assumptions: Loan Amount
All questions relate to each other so I had to post them all together.
11. Calculate the MONTHLY payment from the following assumptions: Loan Amount Annual Interest Rate Amortization Period Monthly Payment Scenario #1 $300,000 4% 30 years Scenario #2 $250,000 5% 15 years Scenario #3 $550,000 3.5% 30 years 12. From the 3 scenarios above, calculate the dollar amount of the points and the lender's yield for the following assumption $ Dollar Amount Lender's yield Scenario #1 2 discount points $ Scenario #2 3 discount points $ Scenario #3 1.5 discount points $ 13.From the 3 scenarios in #1 above, calculate the loan balances at the following time periods: Scenario #1 60 moths $_ Scenario #2 36 months $_ Scenario #3 120 months $ 14. Incorporating the shortened loan periods calculated in #3, recalculate the lenders yield for the 3 scenarios: Scenario #1 Scenario #2 Scenario #3 15. Determine the effective cost of borrowing from question 12 above assuming the following 3rd party costs: (remember to reflect the amount of discounts paid by the borrower) Scenario #1 $2,500 3rd party cost ECB= Scenario #2 $3,500 3rd party costs ECB= Scenario #3 $4,000 #rd party costs ECB=_ 16. Incorporating the discount points calculated in question 12 above, the 3rd party costs in question 15 above and the shortened payoff in question 13 above, calculate the ECB for each scenario: Scenario #1 Scenario #2 Scenario #3 11. Calculate the MONTHLY payment from the following assumptions: Loan Amount Annual Interest Rate Amortization Period Monthly Payment Scenario #1 $300,000 4% 30 years Scenario #2 $250,000 5% 15 years Scenario #3 $550,000 3.5% 30 years 12. From the 3 scenarios above, calculate the dollar amount of the points and the lender's yield for the following assumption $ Dollar Amount Lender's yield Scenario #1 2 discount points $ Scenario #2 3 discount points $ Scenario #3 1.5 discount points $ 13.From the 3 scenarios in #1 above, calculate the loan balances at the following time periods: Scenario #1 60 moths $_ Scenario #2 36 months $_ Scenario #3 120 months $ 14. Incorporating the shortened loan periods calculated in #3, recalculate the lenders yield for the 3 scenarios: Scenario #1 Scenario #2 Scenario #3 15. Determine the effective cost of borrowing from question 12 above assuming the following 3rd party costs: (remember to reflect the amount of discounts paid by the borrower) Scenario #1 $2,500 3rd party cost ECB= Scenario #2 $3,500 3rd party costs ECB= Scenario #3 $4,000 #rd party costs ECB=_ 16. Incorporating the discount points calculated in question 12 above, the 3rd party costs in question 15 above and the shortened payoff in question 13 above, calculate the ECB for each scenario: Scenario #1 Scenario #2 Scenario #3Step by Step Solution
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